The Domestic Markets Department, under the Ministry of Industry and Trade (MoIT), has held a working session with the Vietnam Commodity Exchange (MXV), relevant enterprises, and banks to discuss plans for listing and operating silver bullion trading.

According to market assessments, international silver prices have recently surged in line with the broader uptrend in precious metals. Notably, global silver prices hit a record high of nearly $108.6 per ounce on January 26, 2026. Domestically, silver bullion prices have undergone frequent adjustments, at one point surpassing VND111 million (over $4,200) per kilogram, reflecting significant growing interest from both the public and investors.

Current practices show that silver trading in Vietnam is primarily conducted through direct physical transactions based on bilateral agreements. This model is characterized by fragmentation, a lack of centralized price discovery, and a deficiency in standardized information and commodity quality controls. Furthermore, the absence of risk-hedging tools amidst high price volatility poses substantial risks for individuals, investors, and businesses, while creating challenges for state management.

In this context, the proposal to trade silver on a centralized commodity exchange aims to foster a transparent and public market environment. This move is expected to establish a unified reference price mechanism and provide essential tools for hedging against price fluctuations. Additionally, it will help standardize trading activities and modernize the domestic commodity market in alignment with international standards.

Mr. Tran Huu Linh, Director General of the Domestic Markets Department, noted that the demand for silver trading has been on the rise, particularly as domestic and global prices experience sharp, unpredictable swings with large margins. He emphasized that researching and considering the listing of silver on MXV is a necessary step toward standardizing trading activities.

However, he noted, the implementation process must undergo a comprehensive evaluation to ensure transparency, system safety, and the protection of the interests of all market participants.